Bill 727

A JOINT RESOLUTION

TO PROVIDE THAT THE WHOLESALE GASOLINE FOR EACH OCTANE SOLD IN THIS STATE MAY NOT EXCEED THE AVERAGE PRICE IT SELLS FOR ON APRIL 15, 2011, AND TO PROVIDE THAT PRICE SHALL REMAIN CAPPED FROM APRIL 15, 2011, UNTIL APRIL 15, 2012.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. (A) The wholesale price of gasoline for each octane rating sold in this State may not exceed the average price it sells for on April 15, 2011, as determined by the South Carolina Department of Revenue.

(B) The prices capped pursuant to subsection (A) are those from the refinery as the gasoline enters South Carolina whether it enters by pipeline, ship, or truck.

(C) The provisions of this section shall remain in effect from April 15, 2011, until April 15, 2012.